Hosted by the Eastern Mediterranean University (EMU) Faculty of Business and Economics and organized in collaboration with Turkish Economics Association (TEA), the 32nd Conference on Economics commenced with an opening ceremony held on Thursday, 13 November 2025 at 09:30 a.m. with the participation of Olgun Amcaoğlu – the Turkish Republic of Northern Cyprus (TRNC) Minister of Economy and Energy. The conference took place at Rauf Raif Denktaş Culture and Congress Center.
The opening ceremony was attended by TRNC Minister of Economy and Energy Olgun Amcaoğlu, EMU Board of Trustees (VYK) President Dr. Erdal Özcenk, EMU Rector Prof. Dr. Hasan Kılıç, Chair of TRNC Central Bank Rifat Günay, EMU Vice Rectors Prof. Dr. Osman M. Karatepe and Prof. Dr. Ali Öztüren, EMU General Secretary Derviş Ekşici, Chairperson of TEA Prof. Dr. Hasan Kazdağlı, Dean of EMU Faculty of Business and Economics Prof. Dr. Mustafa Besim, faculty deans, department heads and academics.
“Around 150 Presentations to be delivered Across 36 Different Sessions”
In his opening remarks, Prof. Dr. Mustafa Besim, Dean of EMU Faculty of Business and Economics, expressed pride in collaborating with a long-established and respected institution like TEA for this event. He noted that this year’s congress will feature around 150 presentations across 36 sessions and will include a special panel focusing on the TRNC economy. Prof. Dr. Besim also shared insights on the TRNC’s economic developments, particularly in banking, foreign exchange, and deposits. Highlighting the achievements of the higher education sector in both economic and academic productivity, he stressed the importance of further efforts in quality assurance, strategic planning, and policy management to ensure these successes continue.
“Theoretical and Practical Research Proposals to Be Presented”
Prof. Dr. Hasan Kazdağlı, the Chairperson of TEA, opened by recounting the history of TEA, founded in 1929 under the guidance of Mustafa Kemal Atatürk. He highlighted the institution’s contributions to the national economy during the global economic crisis and its ongoing role today. Prof. Dr. Kazdağlı explained that TEA organizes economic seminars, publishes scientific journals, provides scholarships to outstanding economics students, and rewards students who produce theses on the Turkish economy. He further noted that the conference will bring together academics from around the world to exchange ideas and present recommendations based on both theoretical and practical research. Emphasizing major shifts in the global economy, Prof. Dr. Kazdağlı pointed out that wealth is increasingly concentrated among a small segment of the population and that economic disparities widened especially after the COVID-19 pandemic, providing participants with insights into key events and trends shaping the global economy.
“Determining Role on TRNC Economy”
Rifat Günay, Chairperson of the TRNC Central Bank, discussed the distinctive nature of the TRNC economy, noting its unique structure regarding foreign exchange and deposit usage. He explained that citizens primarily save through local and limited financial instruments, which shapes the economy in particular ways. Günay also emphasized the determining role of economic ties with Türkiye, highlighting that policies and developments from Türkiye significantly influence the local economy. Günay further stressed the critical importance of a strong banking sector in navigating economic and political challenges. Pointing out that the banking sector is essential for keeping the economy afloat during crises, Günay underscored that its stability is crucial for the overall resilience of the TRNC economy.
“Contributing Regional Development through Knowledge and Science”
In his speech, EMU Rector Prof. Dr. Hasan Kılıç expressed his great pleasure and honor in hosting the conference. He highlighted that the event will offer three days of rich scientific content in the fields of economics, finance, labour, and entrepreneurship, emphasizing that the conference serves not only as a scientific gathering but also as a strong platform for idea generation and academic collaboration. Prof. Dr. Kılıç noted that EMU, as the first and only state university established by law in the Northern Cyprus, contributes to regional development through knowledge and science. He added that the conference helps promote and strengthen the academic environment of Northern Cyprus on an international level. Prof. Dr. Kılıç concluded by wishing that the conference would be productive and inspiring both for the scientific community and for society.
“Recommendations to Strengthen the Economy”
Olgun Amcaoğlu, Minister of Economy and Energy of the TRNC, expressed his appreciation to EMU and TEA, highlighting the importance of the event for assessing and discussing the country’s economy. He described the TRNC’s unique economic dynamics, addressing foreign exchange usage, saving behaviours, and initiatives to minimize the informal economy. Emphasizing the role of technological infrastructure in economic monitoring and management, Amcaoğlu noted that electronic tracking systems and data analysis have made economic activities more transparent and systematically organized. Pointing out that between 2020 and 2023, the TRNC economy witnessed notable growth, with significant contributions from tourism, higher education, and the services sector, Amcaoğlu stressed that the conference provides a platform for the academic community and industry representatives to share knowledge, exchange ideas, and propose recommendations to strengthen the economy. He highlighted that strategic actions in tourism, education, and energy will be particularly important for future economic growth. Minister Amcaoğlu concluded by thanking the participants and wishing the conference a successful outcome.
Following the opening speeches, invited speaker Prof. Dr. Hakan Kara from Bilkent University delivered a presentation moderated by Prof. Dr. Erol Tayman from Middle East Technical University. Throughout the day, Participants exchanged insights and experiences in sessions addressing a variety of topics, including the transformation of the Northern Cyprus economy, firm dynamics and international trade, corporate finance, risk management and governance, labour markets and employment, macroeconomic modelling and policy, household behaviour, technological transformation, research and development, and digitalization.
Continued until Saturday, 15 November 2025, panels and presentations offered participants the opportunity to evaluate current economic developments as well as sharing their academic perspectives with one another.